Sweden Wants This Man To Save Saab
He (silver grey tie) is Li Shu Fu, Chairman of Geely, and owner of Volvo. A few days ago, we reported that Saab’s Russian rescue by Vladmir Antonov is running into flak from Brussels, and that Victor Muller is looking to China. To a niche player in China, no less. Victor Muller thinks he will maintain more independency that way. Dream on. If a Chinese buyer buys a foreign brand, then for getting credibility in the export market. That is Geely’s play with Volvo.
Now, Sweden is abuzz with rumors that Geely is supposed to buy Saab. To make it more palatable to Swedes, Geely is not supposed to buy Saab, Volvo is. Volvo is owned by Geely. According to Reuters, the Swedish government has approached Volvo/Geely to take over Saab. Volvo promptly dismissed such chatter. “No such talks have been going on and no such talks are scheduled,” said Volvo Cars spokesman Per-Ake Froberg.
Volvo/Geely needs Saab like a hole in the head. They have all hands full digesting the Volvo takeover. I’d ask BAIC first (they already denied the rumors.) Then any of the top 12 manufacturers excluding SAIC (they have MG). Anyone who wants to export from China could use Saab.